Accelerate Diagnostics (NASDAQ:AXDX) Upgraded at BidaskClub

BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a strong sell rating to a sell rating in a research note published on Thursday morning, BidAskClub reports.

AXDX has been the subject of several other reports. ValuEngine downgraded Accelerate Diagnostics from a buy rating to a hold rating in a report on Tuesday, February 4th. Zacks Investment Research raised Accelerate Diagnostics from a sell rating to a hold rating in a report on Wednesday, February 26th. Finally, Piper Sandler boosted their target price on Accelerate Diagnostics from to and gave the company an overweight rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Accelerate Diagnostics currently has a consensus rating of Hold and an average target price of $19.00.

Shares of NASDAQ:AXDX traded down $0.10 on Thursday, hitting $8.00. 505,378 shares of the company’s stock were exchanged, compared to its average volume of 593,029. The firm’s 50-day moving average is $12.51 and its 200 day moving average is $16.10. The company has a market capitalization of $444.80 million, a PE ratio of -5.19 and a beta of 2.97. Accelerate Diagnostics has a 1-year low of $4.53 and a 1-year high of $24.00. The company has a debt-to-equity ratio of 12.81, a quick ratio of 13.94 and a current ratio of 14.93.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, February 27th. The medical research company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.04. Accelerate Diagnostics had a negative return on equity of 469.38% and a negative net margin of 903.51%. The business had revenue of $3.50 million during the quarter, compared to the consensus estimate of $3.53 million. On average, analysts anticipate that Accelerate Diagnostics will post -1.52 EPS for the current fiscal year.

In other Accelerate Diagnostics news, Director Jack W. Schuler bought 172,900 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was acquired at an average cost of $5.89 per share, with a total value of $1,018,381.00. Following the purchase, the director now owns 44,670 shares in the company, valued at approximately $263,106.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack W. Schuler bought 150,000 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were acquired at an average cost of $7.70 per share, with a total value of $1,155,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 323,900 shares of company stock valued at $2,179,851. 47.60% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of AXDX. Chicago Capital LLC raised its stake in shares of Accelerate Diagnostics by 49.1% during the 4th quarter. Chicago Capital LLC now owns 1,314,093 shares of the medical research company’s stock worth $22,208,000 after buying an additional 432,703 shares in the last quarter. AXA raised its stake in shares of Accelerate Diagnostics by 14.0% during the 4th quarter. AXA now owns 2,042,838 shares of the medical research company’s stock worth $34,524,000 after buying an additional 250,407 shares in the last quarter. Griffin Asset Management Inc. raised its stake in shares of Accelerate Diagnostics by 22.1% during the 4th quarter. Griffin Asset Management Inc. now owns 994,657 shares of the medical research company’s stock worth $16,810,000 after buying an additional 179,908 shares in the last quarter. FMR LLC raised its stake in shares of Accelerate Diagnostics by 16.1% during the 1st quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock worth $18,016,000 after buying an additional 118,620 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Accelerate Diagnostics by 28.0% in the 4th quarter. UBS Group AG now owns 207,367 shares of the medical research company’s stock worth $3,505,000 after acquiring an additional 45,420 shares during the period. 55.23% of the stock is owned by institutional investors and hedge funds.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. It offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms, as well as yeast.

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